One of the primary objectives of the Government, which was the qualitative and further strengthening of the Cyprus ship registry, has been achieved, President of the Republic, Nikos Christodoulides, stressed on Sunday, noting that in the last two years it recorded an increase of 20%.
“This achievement is largely due to the strengthening of the cooperation we have achieved with the ship-owning community of Greece and the shipping companies based in Cyprus, as well as the firm support of Cypriot shipowners,” the President stressed in his address during a formal dinner hosted at the Presidential Palace on the occasion of the Maritime Cyprus Conference that begins on Monday in Limassol.
Earlier on Sunday, President Christodoulides had separate meetings with Secretary General of the International Maritime Organisation Arsenio Dominguez, European Commissioner for Sustainable Transport and Tourism Apostolos Tzitzikostas, Minister of Maritime Affairs and Insular Policy of the Hellenic Republic Vasilis Kikilias as well as senior executives of international shipping companies.
In his address during the dinner, he said that a strong Cypriot ship registry strengthens Cyprus' position on the shipping map, and also strengthens Cyprus promotion at an international level, with ships flying the Cypriot flag traveling to all corners of the earth.
"And this is even more important for us, a country that has been under Turkish occupation for 51 years," the President underlined.
He also noted the political will to further strengthen and improve the framework of services Cyprus is providing to shipping companies, "so that we can respond fully and effectively to the demanding operating framework of the shipping industry."
A main priority for the government, he continued, is the strengthening the maritime cluster in Cyprus, which is a strong industry with a multifaceted contribution.
He also said that the revenue generated by the ship management sector, during the 2nd half of 2024, amounted to 918 million, an amount corresponding to 5.28% of Cyprus's GDP. This contribution, he pointed out, compared to the 2nd half of 2023, recorded an increase of 27%.
"This makes the ship management sector a strongly growing factor in the Cypriot economy. At the same time, the increase in companies integrated into the Cypriot tonnage tax system by 15% in the last two years demonstrates the advantages provided by our regulatory framework, as well as the prospects that exist," he stressed.
The President noted that a shipping cluster is not only ship ownership companies and ship management companies, but also all companies that offer similar services in the sector, noting that those companies are consistently choosing Cyprus as the country to establish their activities.
"The strengthening, therefore, of the shipping cluster in Cyprus is our priority and with policies, such as the digitalization of the services provided but also the strengthening of others, such as for example the one-stop shipping centre, we are convinced that we will succeed in making Cyprus one of the most attractive destinations for these companies," he noted.
Referring to the upcoming Cyprus Presidency of the EU, he said that shipping will be one of the top priorities, adding that the European Commission is expected to submit its proposal for the new EU Maritime Industrial Strategy, which will be discussed in the context of the Cyprus Presidency.
The Cyprus EU Presidency, the President said, will also highlight other major challenges in the Shipping sector, including the shortage of merchant marine officers, the need for retraining and upgrading the skills of seafarers, as well as the strengthening of the framework that will allow for equal treatment of women in the maritime labor market.
Concluding, he said that a relevant declaration is expected to be adopted during the informal Council of Ministers responsible for maritime transport issues, which will be held in Cyprus next April.
Meanwhile, the President received on Sunday afternoon Secretary General of the International Maritime Organisation Arsenio Dominguez. According to a press release by the Presidency, during the meeting, they discussed issues of cooperation between Cyprus and the IMO as well as the current situation in the shipping sector given the geopolitical developments both in the region and internationally.
The President also received senior executives of international shipping companies. He met with CEO of the Caravel Group, Dr. Harry Banga, who is also the Honorary Consul of Cyprus in Hong Kong, and who noted the company's interest in operating in Cyprus. The President thanked Dr. Banga for his continuous support to the Cypriot shipping. Furthermore, in a meeting with executives of Royal Caribbean, they reaffirmed the strong cooperation of the Republic of Cyprus with the company, which is one of the largest shipping companies in the world, the press release says. They also discussed about the prospects for further strengthening the cooperation within the framework of the National Cruise Strategy approved by the Council of Ministers.
Furthermore, he received European Commissioner for Sustainable Transport and Tourism Apostolos Tzitzikostas. The President noted that "it is the first time that we see, specifically in the shipping sector, the EU claiming the role it should play". The Commissioner said that Cyprus can count on his support, and gave as an example the approval of a fund of 18 million euro for the port of Vassilikos, noting that this is only the beginning.
Finally, the President received Minister of Maritime Affairs and Insular Policy of the Hellenic Republic Vasilis Kikilias who referred to the large percentage that shipping constitutes in the GDP of Cyprus, expressing the belief that it will be strengthened even further in the coming years. President Christodoulides said that the Cypriot Government is proceeding with the strengthening of similar sectors of shipping, as well as with actions to develop the cruise industry.
CNA/AAR/EPH/2025
ENDS, CYPRUS NEWS AGENCY
